Trends for Real Money Online Casinos Development in 2021-2025
By Space Coast Daily // February 19, 2021
Millions of gamblers now prefer playing casino games online to visiting brick-and-mortar casinos. It is a huge trend since the coronavirus pandemic struck.
In what is fast becoming the new norm, people are increasingly shying away from land-based casinos. And for some reason, it makes sense. Stats published by the U.K Gambling Commission indicate that more than 43% of the country’s gamblers now access real money online casinos via smartphones.
It means, as eGaming gains momentum, casino businesses are leaving nothing to chance. In the next five years, massive developments will redefine the online gambling industry as we know it.
This article delves into trends that will shape up the real money online casino development between 2021 and 2025. Thus, a cherry-picked real money online casino list for South Africans is a good starting point for gamblers in that part of the world.
The Value of Real Money Online Casinos to Reach $67 Billion by 2025
The steady growth of online casinos has been witnessed in the last two years. Economic experts forecast an even higher growth rate by 2025. In 2019, the industry was valued at $44.317.
Despite a tumultuous 2020 when most businesses closed shop due to a deadly pandemic, the eGaming industry beat the odds. According to a publication on Businesswire, a compound annual growth rate of 7.13% for online casinos in the next five years will culminate into a growth value of $67 billion by 2025.
Many factors contribute to these ambitious growth projections. For example, a 2018 report by the American Gaming Association indicated that there are at least 2,800 active casino websites in the world.
At the peak of the COVID-19 pandemic, when millions of people stayed at home, more casino websites were registered to meet the surging demand for entertainment. A younger generation addicted to eGaming further fuels the positive growth trend witnessed in the eGaming industry since 2018. In the post-COVID-19, real money online casinos will remain vibrant and indispensable.
New Partnership Deals Will Accelerate Development of Real Money Online Casinos
After the coronavirus outbreak breathed life into online businesses, instead of killing it, we see a heightened and expanded growth in online casino businesses. New partnership deals between game providers and gambling companies will peak between 2021 and 2025.
These partnerships will be especially witnessed in the U.S.A and Spain, where new gambling laws open up the eGaming landscape. For example, Greentube, an interactive division of NOVOMATIC, signed a game distribution agreement with Casino Gran Madrid Online, a leading casino operator in Spain.
It means Casino Gran Madrid Online now has unfettered access to popular NOVOMATIC slot machine games. Under the agreement, Greentube is further set to introduce NOVOMATIC jackpot games in Spain.
While Casino Gran Madrid Online started as a land-based gaming house since its establishment in 1981, it has established a huge online presence. As a result, the growth of real money online casinos in Spain will gain momentum between 2021 and 2025.
Virtual Reality in Gambling to Increase in 2021
The use of virtual reality in real money online casinos was at its peak in 2020. In 2021 and beyond, VR casinos will keep gaining popularity among online gambling communities. As social distancing rules remain enforced globally, VR wouldn’t have been more useful. Land-based casinos remain unsafe because COVID-19 is still here.
However, gamblers can still experience real-life gaming through virtual reality technology. A boom in the VR market, projected to reach $2.4 in global revenue by 2024, coincides with increasing video gaming technology demand. You may also find out why President Joe Biden praised diversity in the Latino community. According to Biden, the Latino community is more diversified than the African American community.
Mobile Gambling to Spur Growth of Real Money Online Casinos
For the next five years, mobile gambling will remain a huge trend in real money online casinos. While desktop gaming platforms will remain pivotal in the industry, mobile sites and gaming apps are fast gaining acceptance worldwide.
People love convenience and speed, which is realized through smartphone gaming. Note that the benefits of mobile gaming are many. For example, smartphones provide instant and real-time updates on casino offers.
With a smartphone, you can also login quickly to a gaming platform and place your bets on live casino games. Moreover, mobile gambling is secure.
Because smartphone manufacturers provide regular updates to cell phone users, there is minimal exposure to hacking threats and online fraud. Anyone reading this should also note that Space Coast CityFest is around the corner. Spread the word!
The above trends in online casinos and many others will continue to shape the future of eGaming. As more people join internet gaming platforms for real money gambling, we should also expect exponential growth in the industry. Some studies even project higher growth figures for the online casino industry.